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$150B pension plan invests in bitcoin ETFs, Mastercard advances blockchain initiatives, and Chainlink partners with major banks

The Hash Insider

May rebounded positively, driven by favorable macroeconomic data. The Nasdaq Crypto IndexTM rose 6.8%, with bitcoin (BTC) leading the charge with a 7.5% increase, while ether (ETH) rose 4.7%.



Wisconsin invests over $100M in bitcoin ETFs, hedge fund Millennium buys $2B

According to K33 Research, 937 institutions invested in bitcoin ETFs in the first quarter of 2024, almost ten times more than the number that invested in gold ETFs during the same period. The list includes major banks such as JP Morgan, Wells Fargo, BNY Mellon, and Brazilian institutions like BTG Pactual and Banco do Brasil. The State of Wisconsin Investment Board disclosed $163 million in bitcoin ETFs and investments in companies like Coinbase and MicroStrategy, while Millennium Management, a major hedge fund, revealed nearly $2 billion in bitcoin ETF holdings. These significant allocations indicate growing institutional confidence in bitcoin, potentially driving further interest and increasing demand and prices.


Mastercard picks five startups for its blockchain program

Mastercard selected five startups for its “Start Path” program, focused on developing blockchain use cases. This initiative highlights Mastercard's commitment to exploring and integrating blockchain technology into its services, which can enhance transparency, security, and efficiency in financial transactions. For investors, it underscores Mastercard's proactive stance on innovation and could lead to new revenue streams and partnerships, positioning the company favorably in the evolving fintech landscape​ and further driving crypto solutions to promote a broader adoption of its technology. 


Chainlink launches Wall Street pilot with major banks

Chainlink has seen an 18% price surge following the announcement of a pilot project with JP Morgan, BNY Mellon, and the DTCC. This project aims to integrate Chainlink's decentralized oracle networks into traditional financial systems, facilitating real-time data sharing and transaction processing, and its involvement with prominent financial institutions could significantly enhance its market credibility and adoption. For investors, this collaboration reiterates the potential of blockchain technology to revolutionize financial markets, with decentralized data-provision perhaps being a market niche that has been gaining momentum. 



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